Sector: Consumer Cyclicals | Industry: Casinos & Gaming |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 3600 LAS VEGAS BLVD S LAS VEGAS NV 89109 |
Tel: | N/A |
Website: | www.mgmresorts.com |
IR: | See website |
Key People | ||
William J. Hornbuckle President, Chief Executive Officer, Director | Jonathan S. Halkyard Chief Financial Officer, Treasurer | Gary M. Fritz President - MGM Resorts International Interactive |
Corey I. Sanders Chief Operating Officer | John M. Mcmanus Chief Legal and Administrative Officer and Secretary | Daniel Yang Chief Customer and Innovation Officer |
Business Overview |
MGM Resorts International is a holding company. The Company, through subsidiaries, is a global gaming and entertainment company with domestic and international locations. The Company's segments include Las Vegas Strip Resorts, Regional Operations, and MGM China. The Las Vegas Strip Resorts segment consists of casino resorts: Aria (including Vdara), Bellagio, The Cosmopolitan of Las Vegas; MGM Grand Las Vegas, Mandalay Bay (including Delano and Four Seasons), Luxor, New York-New York (including The Park), Excalibur, and Park MGM (including NoMad Las Vegas). The Regional Operations consist of casino properties: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George's County, Maryland; MGM Springfield in Springfield, Massachusetts; Empire City in Yonkers, New York, and MGM Northfield Park in Northfield Park, Ohio. It operates approximately 16 domestic casino properties. |
Financial Overview |
For the fiscal year ended 31 December 2023, MGM Resorts International revenues increased 23% to $16.16B. Net income applicable to common stockholders decreased 21% to $1.14B. Revenues reflect MGM China segment increase from $673.6M to $3.15B, Occupancy - % Las Vegas increase of 4% to 93%, Avg Daily Room Rate (ADR)-Circus Las Veg increase of 12% to $256. Net income was offset by Gain on REIT transactions, net decrease from $2.28B (income) to $0K. |
Employees: | 45,000 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $18,477M as of Dec 31, 2023 |
Annual revenue (TTM): | $16,164M as of Dec 31, 2023 |
EBITDA (TTM): | $2,397M as of Dec 31, 2023 |
Net annual income (TTM): | $1,144M as of Dec 31, 2023 |
Free cash flow (TTM): | $1,785M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $3,511M as of Dec 31, 2023 |
Shares outstanding: | 317,015,680 as of Mar 8, 2024 |
Index Membership: | S&P 500 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |